The local share market enjoyed a strong gain today, boosted by the performance of international equity markets on Friday evening.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.8% to 5729 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.8% to 5791 points
- AUD/USD at US 78.29 cents
- Iron Ore at US$62.05 a tonne, according to the Metal Bulletin
- Gold at US$1,274.84 an ounce
- Brent oil at US$56.72 a barrel
Shares across the market enjoyed strong gains today, but no share in the ASX 200 index rose as much as Beach Energy Ltd (ASX: BPT).
Beach Energy's shares rocketed 10.3% higher today after they emerged from a temporary trading halt. The company recently announced it would acquire all the shares of Lattice Energy for $1,585 million which will increase 2P reserves by around 200% to 232 million barrels of oil equivalent (MMboe). Production guidance for the 2018 financial year will also be boosted by 150% to 25-27 MMboe.
However, shares of a number of other businesses also rose strongly today. Syrah Resources Ltd (ASX: SYR) rose 7.9%, Galaxy Resources Limited (ASX: GXY) jumped another 5.4%, and a2 Milk Company Ltd (Australia) (ASX: A2M) rallied 5.3%.
Metcash Limited (ASX: MTS) was among the ASX 200's biggest losers, although its shares only slipped 1.6%. Meanwhile, Catapult Group International Ltd (ASX: CAT) fell 3.1%.
